How a nudge from Cyrus Mistry helped TCS unlock a USD1 billion opportunity

For years, Tata Consultancy Services (TCS) – the crown jewel of the Tata Group – built its fortune servicing global giants. But quietly and steadily, its fortunes within the family have been rising too. Cyrus Mistry's tenure as the head of Tata Sons may have come to a contentious end, but a move he put in motion now yields close to USD1 billion of annual revenue. Mistry wanted TCS to tap into the Tata Group's vast internal ecosystem for more

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Time of India

14 hours ago

• Time of India

Cognizant to invest $183 million for to build new campus in Vishakapatanam

BENGALURU: Software services firm Cognizant Technology Solutions will invest 15.82 billion rupees ($182.76 million) to build a new campus in south Indian city of Vishakapatanam that will create about 8,000 jobs, the state government announced on Friday. Commercial operations will begin in March 2029, an Andhra Pradesh government press release said. Cognizant did not immediately respond to a request for comment. The announcement comes just months after India's top IT firm, Tata Consultancy Services , unveiled plans for 13.70 billion rupee campus in the same city, and is expected generate 12,000 jobs. The move aligns with Cognizant's strategy to optimise real estate costs. In May 2023, Chief Executive Ravi Kumar S said the company would relinquish 11 million square feet of office space globally, mainly in India's largest cities, while investing in tier-2 Indian cities. Globally, IT companies, including those in India's $283 billion sector, are taking cost-cutting measures such as monetising real estate assets and delaying wage increases amid demand uncertainty. Last month, the Teaneck, New Jersey-based company raised its annual revenue forecast and beat first-quarter results driven by increased demand for AI-powered IT services. Cognizant expects 2025 annual revenue between $20.5 billion and $21.0 billion, compared to previous outlook of the midpoint of $20.30 billion to $20.80 billion.

Time of India

15 hours ago

• Time of India

Why Cognizant paid less than a rupee for 21.31 acres of land in Andhra Pradesh's Visakhapatnam

Global IT services giant Cognizant Technology Solutions will establish a major IT campus in Visakhapatnam after securing 21.31 acres of land from the Andhra Pradesh government for just 99 paise. The company plans to invest Rs 1,582 crore in the project, which is expected to generate 8,000 jobs over the next eight years. The land allocation at Kapulauppada under the Visakhapatnam Metropolitan Region Development Authority (VMRDA) reflects the state's aggressive push to transform the coastal city into a technology hub. According to sources cited by MoneyControl, Cognizant has set March 2029 as the target date for commencing commercial operations from the facility. Andhra's strategic move to build IT ecosystem in the state The development aligns with Chief Minister N Chandrababu Naidu's vision of positioning Visakhapatnam as Andhra Pradesh's economic capital. The nominal land price underscores the state government's commitment to attracting major technology investments to the region. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Forget Furosemide, Use This Household Item To Help Drain Edema Fluid WellnessGuide Learn more Undo Earlier this year, Andhra Pradesh's IT and Human Resources Minister Nara Lokesh met with Cognizant CEO Ravi Kumar S at the World Economic Forum in Davos, urging the company to expand into tier-2 cities like Visakhapatnam. Lokesh has previously described his vision for the city, stating that "if Goa were to marry Bangalore and have a child, that could be Visakhapatnam." Following TCS blueprint for tech hub bevelopment This land deal follows a similar arrangement made in April 2025, when the state government allotted 21 acres to Tata Consultancy Services (TCS) for the same nominal amount of 99 paise. The pattern demonstrates Andhra Pradesh's systematic approach to building a technology corridor in Visakhapatnam. The Teaneck, New Jersey-based Cognizant's investment represents a significant boost to the region's employment landscape. With Visakhapatnam located approximately 600 kilometers from Hyderabad and 800 kilometers from Chennai, two of India's major software hubs alongside Bengaluru, the city is positioned to become a strategic alternative for IT operations. The campus development is expected to contribute substantially to the local economy while providing skilled employment opportunities in the region. AI Masterclass for Students. Upskill Young Ones Today!– Join Now

Mint

15 hours ago

• Mint

Why did DGCA order Air India to remove 3 officials? Explained in 5 points

India's aviation safety watchdog Directorate General of Civil Aviation (DGCA) has ordered Air India to remove three officials from all roles and responsibilities linked to rostering and crew scheduling after finding serious lapses. In an order dated June 20, the DGCA further asked the Tata Group-owned airline to initiate proceedings against these three officials without delay. Air India issued a statement following the order, saying that it had implemented the order of the aviation watchdog. 'In the interim, the company's Chief Operations Officer will provide direct oversight to the Integrated Operations Control Centre (IOCC). Air India is committed to ensuring that there is total adherence to safety protocols and standard practices,' Air India said. 1. The DGCA's order stated that it had found 'repeated and serious violations' in the scheduling of its crew. 'Repeated and serious violations voluntarily disclosed by Air India concerning flight crew being scheduled and operated despite lapses in licensing, rest, and recency requirements.' 2. The aviation watchdog further revealed that it found the violations during its post-transition review from ARMS to the CAE Flight and Crew Management System. Air India uses ARMS (Air Route Management System) software to execute a range of operational and management tasks like crew rostering, flight planning and more. 3. The DGCA in its order said the voluntary disclosures, 'while noted, point to systemic failures in crew scheduling, compliance monitoring, and internal accountability'. 4. The regulator noted that its 'particular concern is the absence of strict disciplinary measures against key officials directly responsible for these operational lapses.' 5. The DGCA flagged that the officials have performed 'serious and repeated lapses including unauthorised and non-compliant crew pairings, violation of mandatory licensing and recency norms and systemic failures in scheduling. protocol and oversight.' The aviation safety watchdog's latest order comes at a time when the carrier is facing heightened scrutiny in the aftermath of the June 12 Ahmedabad plane crash that killed 241 out of 242 on board and at least 29 residents of the building it crashed into. Air India also received a warning from the DGCA, which threatened 'strict actions' including licence suspension and operational restrictions if there are violations in crew scheduling in the future. A London-bound Air India flight, AI-171 carrying 242 passengers and crew members crashed in Ahmedabad on June 12. All but one on board the plane died along with nearly 29 on the ground when the aircraft smashed into a medical complex shortly after take-off.